Technical analysis NAS100 for 08.01.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 16250. The closest resistance is the level 16350

Key levels

• 16450, 16350, 16250, 16125, 16000

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 16350, with Take Profit of 16450 and Stop Loss of 16250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 16250, with Take Profit of 16125 and Stop Loss of 16350